Definition - What does Maturity Value mean?
Maturity value is an asset's value after it has reached full maturity. Many life insurance policies have maturity dates.
Insuranceopedia explains Maturity Value
If the person reaches their life insurance's maturity date, the insurance contract will often stipulate that the insurer will have to pay the death benefit, or the cash value, directly to the insured.
The maturity date of life insurance policies are typically set at the policyholder's 100th or 121st birthday. Since very few people reach this age, death benefits normally go to the beneficiary instead of the policyholder.